Sei Investments Co. Has $6.69 Million Stock Holdings in Teck Resources Limited (NYSE:TECK)

Sei Investments Co. grew its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 6.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 165,150 shares of the basic materials company’s stock after buying an additional 10,699 shares during the quarter. Sei Investments Co.’s holdings in Teck Resources were worth $6,693,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TECK. Synergy Asset Management LLC lifted its stake in Teck Resources by 77.7% in the 4th quarter. Synergy Asset Management LLC now owns 16,892 shares of the basic materials company’s stock valued at $685,000 after purchasing an additional 7,387 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Teck Resources during the third quarter valued at $1,937,000. Paloma Partners Management Co bought a new stake in shares of Teck Resources during the 3rd quarter valued at about $20,896,000. FNY Investment Advisers LLC boosted its holdings in shares of Teck Resources by 709.5% during the 4th quarter. FNY Investment Advisers LLC now owns 17,000 shares of the basic materials company’s stock worth $689,000 after buying an additional 14,900 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Teck Resources by 194.2% during the third quarter. BNP Paribas Financial Markets now owns 141,593 shares of the basic materials company’s stock worth $7,397,000 after acquiring an additional 93,459 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors.

Teck Resources Trading Down 2.8 %

Shares of Teck Resources stock opened at $36.41 on Tuesday. The company’s 50-day moving average price is $41.42 and its 200-day moving average price is $44.57. The company has a market cap of $18.02 billion, a price-to-earnings ratio of 66.20 and a beta of 0.93. Teck Resources Limited has a 12-month low of $35.14 and a 12-month high of $55.13. The company has a current ratio of 2.92, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16.

Teck Resources (NYSE:TECK) (TSE:TECK) last posted its earnings results on Thursday, February 20th. The basic materials company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.26 by $0.07. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2.58 billion. On average, equities analysts expect that Teck Resources Limited will post 1.53 earnings per share for the current fiscal year.

Teck Resources Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $0.0879 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a yield of 0.97%. Teck Resources’s payout ratio is 61.82%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TECK. Bank of America increased their price target on Teck Resources from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, March 10th. JPMorgan Chase & Co. cut their price target on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Raymond James reduced their price objective on Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, January 22nd. Finally, National Bank Financial downgraded shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $65.22.

Teck Resources Profile

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.